Develop Business in Global Market, Sido Muncul Open Branch in Philippines and Nigeria

By : Hariyanto And Aldi Firhand. A | Tuesday, April 03 2018 - 21:26 IWST

PT Industri Jamu dan Farmasi Sido Muncul Tbk (SIDO)
PT Industri Jamu dan Farmasi Sido Muncul Tbk (SIDO)

INDUSTRY.co.id - Jakarta - PT Industri Jamu dan Farmasi Sido Muncul Tbk (SIDO) is increasingly aggressively expanding its business in the global market by opening branches in the Philippines and Nigeria.

"We are still exploring to many countries by expanding the marketing area," said Director of PT Jamu and Sido Megah Industries Irwan Hidayat to press in Jakarta, Tuesday (3/4/2018).

Currently, the progress of market expansion to destination countries is still in the process of obtaining permits. "So we are still doing registration at POM (Food Drug Control) in the country there," said Irwan.

He said, in developing the market, Sido Muncul more prioritize the marketing office in many countries, not making factories abroad.

"The business scheme is more efficient and effective for this company. We are looking for distributors there, and for the marketing office, there is no need for the factory there, from Indonesia just send it," said Irwan.

Previously, Finance Director of PT Industri Jamu dan Farmasi Sido Muncul Tbk Venancia Sri Indrijati Wijono said that the export portion of SIDO's revenue is still very small at 1%. However, less than two years, Herbal and Pharmaceutical Industry Sido Muncul targets the export portion can reach 5%.

Given the financial statements of the third quarter-2017, Jamu and Pharmaceutical Industry Sido Muncul recorded net sales of Rp1, 86 trillion. This achievement decreased 1.79% compared to the sales of third quarter-2016 of Rp 1.89 trillion.

The details of the sale of PT Industri Jamu dan Farmasi Sido Muncul Tbk appeared in the third quarter of 2017, for herbal medicine and supplement products amounting to Rp 1.19 trillion or up 7.5% year on year (yoy). Food and beverage products decreased 17.12% to Rp 599.89 billion, while pharmaceutical revenues amounted to Rp 68.53 billion, up 11.55% yoy. (imq)

News Comment

Today's Industry

Vaccine Covax-19

Kamis, 03 September 2020 - 16:05 WIB

$1m for Covax-19 vaccine work

The $1 million grant is one of 13 early stage biomedical projects to receive funding through the Federal Government’s Biomedical Translation Bridge (BTB) program, part of Australia’s landmark…

Jonathan Knudsen - Senior Security Strategist, Synopsys Software Integrity Group

Rabu, 02 September 2020 - 15:50 WIB

How to Cyber Security: Pain in the AST

Language is tricky, especially in areas where it is evolving quickly. Software security is a young and volatile field where new terminology ebbs and flows continually.

Ilustration Palm Oil (RSPO)

Jumat, 21 Agustus 2020 - 20:05 WIB

Shared Responsibility Boosts Sustainable Palm Oil Absorption In Indonesia

The Roundtable on Sustainable Palm Oil (RSPO) has been upholding the shared responsibility concept after its adoption in the 15th General Assembly in 2018.

HackerOne (Images by Tekno Tempo.co)

Rabu, 19 Agustus 2020 - 16:50 WIB

COVID-19 puts CISOs under strain: 21% of Businesses In Singapore Have Seen More Attacks During The Pandemic

HackerOne, the world’s trusted hacker-powered security platform, today revealed research that 21% of businesses in Singapore have seen an increase in attacks on their IT systems as a result…

HIMA's HIQuad X safety systems (Photo by HIMA)

Rabu, 12 Agustus 2020 - 14:45 WIB

Australia's Nickel West Modernized with HIMA’s HIQuad X Safety Systems

Nickel West, a fully integrated mine-to-market nickel producer, part of one of the world's leading producers of major commodities BHP in Australia